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Overnight, the Shanghai aluminum main 1910 contract opened at 14355 yuan / ton, after the opening of the long position to help the aluminum price rush to 14390 yuan / ton, immediately the long high profit liquidation, Shanghai aluminum fell back to 14345 yuan / ton position, the end of the short position reduced, Shanghai aluminum finally closed at 14370 yuan / ton
.
Shanghai aluminum still showed a high volatility trend overnight, with 5-day moving average support
below.
Electrolytic aluminum continues to go to storage, the pressure on the supply side has not yet been highlighted, it is expected that the main shock of Shanghai aluminum will run at 14300-14450 yuan / ton in the day, and the spot aluminum price will rise by 30-50 yuan / ton
in the month.
The AOO aluminum ingot price in East China was 14410 yuan / ton, down 20 yuan
.
This week's aluminum ingots continued the trend of destocking, but the spot market supply and demand are weak, the transaction status is deadlocked, the lack of substantial recovery driven, aluminum prices have limited room to rise, and spot aluminum prices are expected to rise
slightly today.
Shanghai aluminum continued to fluctuate at a high level yesterday, and the main contract closed at 14370
.
The macro favorable superimposed on the improvement of the fundamentals is expected to make Shanghai aluminum maintain a strong short-term position, and under the dual stimulation of production reduction disturbance and consumption recovery, the destocking process of aluminum ingots has started
again.
The cost side of alumina rebound is weak, the price of pre-baked anode continues to decline, the electrolytic aluminum industry maintains a profit cycle, objectively favorable to the release of new production capacity and the recovery of suspended production capacity, but the impact of resumption of production takes time to reflect, and will not cause a significant increase in supply in the short term
.
The short-term bullish logic is still supported, the price is expected to continue to fluctuate at a high level, and it is not recommended to chase the long at the
current point.
